Property Valuation
Under USPAP, an appraiser must maintain which document that contains all notes, data, and work papers supporting the appraisal report?
ASales contract file
BThe workfile✓ Correct
CThe disclosure statement
DThe engagement letter
Explanation
Under USPAP (Uniform Standards of Professional Appraisal Practice), appraisers must maintain a workfile containing all notes, data, and work papers supporting each appraisal for a minimum retention period.
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